Sale of land and purchase
Pooja Agrawal (Student CA Final ) (164 Points)
26 January 2014
if i sold a land and repurchase another then can i get any exemption...
Pooja Agrawal (Student CA Final ) (164 Points)
26 January 2014
Sheel priya
(Article & CA FINAL)
(160 Points)
Replied 26 January 2014
Mihir
(Wealth Manager)
(5293 Points)
Replied 26 January 2014
One is required to purchase another plot within 2 years after the sale of a plot to avail exemption u/s 54F.
Stranger
(.)
(5526 Points)
Replied 27 January 2014
Yes u/s-54B, provided the land sold has been used for agricultural purpose for 2 years preceeding the date of transfer & the new land has also been purchased for agricultural purpose within a period of 2 years from date of transfer. If the land sold is not an agricultural land & also sold after 36 months then u can claim exemption u/s-54EC by making investments, subject to Rs.50 lakhs in any F.Y., in NHAI or RECL bonds within 6 months from date of transfer & u/s-54F by purchasing a house 1 year before or within two years after date of transfer or consturcting a house within 3 years after date of transfer.
Suraj
(Service)
(260 Points)
Replied 30 January 2014
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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